This land, which has access from Colac Road, was sold to Henry "Money" Miller who built a small stone house on it in 1846 which was let to Martin Priest. Priest was granted the first license for the inn in April 1846. He also ran the Shamrock Inn on the corner of Malop and Yarra Streets, then called North Geelong. In July 1848, on leaving the Shamrock Inn, he took over the license of Mr O'Hara's house at Batesford. He advertised this business as Marrabool Inn. He also announced he had a new and secure yard on his premises which could contain upwards of three hundred head of cattle.
In 1847 Harry Hooton took over the inn. In April 1849 Hooton was granted a license conditional on the erection of extra accommodation. If not completed in two months the license would lapse.
Early maps show a road to Colac following the creek to Mount Moriac. This gave the Victoria Inn, situated on the northern bank a good position to catch the passing traffic. The Inn took its name from Hon Henry Miller's Victoria Estate. During the short time the Victoria Inn was operating it was the district meeting place on many occasions for discussing the roads, bridges and tolls, among other local concerns. In 1855 blocks of land on the south side of the creek in Waurn Ponds were auctioned.
In November 1849 Robert Tweedy opened the inn in a new stone building. He had previously held the license for the Hibernian Hotel in South Geelong. On 10th August 1852 Tweedy, aged 38 years, died after "a long and distressing affliction." His funeral took place at the Bridge Inn, South Geelong. The following year his widow, Ann Jane née Irwin, applied for the license. Robert (from Northumberland) and Ann (from Armagh) came to Australia separately in 1841 as bounty emigrants on the George Fyfe. They married the same year. After Robert's death she married Thomas Fitzgibbon and they kept the inn going until 1858, the year they both died.
Esther, widow of Martin Priest applied for the license in 1859.
In 1860 George Marsh applied for a license to run the inn, but failed to obtain it, probably because he failed to appear in court. He was insolvent and his hotel and household goods were sold.
After this the inn became a private residence. In 1861 the farm was leased to Bankin brothers.
It became known as Victoria Heights when it was occupied by the family of Robert Shaw Hunt and his wife Harriet nee Bone from the 1890s until his death in 1845. In 1902 their two year old daughter Vera drowned in Waurn Ponds Creek.
In 1874 Louis Mermod had his colonial wine licence transferred from his Pettavel store to Waurn Ponds where he held a rural store license. His land was near the corner of Cochranes Road and Colac Road, now named Waurn Ponds Drive. This venture was probably not successful as he was trying to sell his rural store site by late 1875. He subsequently appears to have moved to Korong Vale. The block on the corner marked "camping" is now Waurn Ponds Memorial Reserve. The reserve is maintained by a local committee to commemorate local residents who served in World War 1.